Vitamins & Supplements Market 2023

The supplements market has transformed in recent years. The number of categories has dramatically increased, from vitamins and minerals in the early days to now include collagen, probiotics, and protein to name a few. So, what’s the state of the market right now and how might it evolve over the coming years?

In this article – we’ve collated the latest vitamin and supplement industry stats into one useful resource.

• Supplements
• Vitamins & Minerals
• Trends
• Research

Dietary Supplements Market Overview

Supplements are a huge market within the nutrition industry that only looks set to grow in the coming years…

• The dietary supplements market is estimated to be worth $178.5bn in 2023.
• It’s predicted to grow at a rate of 8.8% each year.
• Vitamins and product are the largest segments within the supplement industry.
• The biggest nutritional supplement manufacturers are BASF, Abbot Laboratories and Koninklijke DSM.

2023 Nutrition Industry Market Report

Vitamin Market

The vitamin market is well-established but brands continue to innovate their product offerings…

• The vitamins market is estimated to be valued at $52.9bn in 2023.
• It’s predicted to grow at a rate of 6.2% each year.
• Multivitamins are the largest sub-segment accounting for 40%.
• Micronutrient deficiencies are common in North America and Western Europe. For example, in the UK men are deficient in selenium (26%), magnesium (14%), and vitamin A (11%) and women are deficient in iron (25%), selenium (50%), and potassium (24%). 

Supplement Market Trends

Looking at vitamin and supplement trends can be helpful in identifying opportunities. Whether you’re looking to develop your own nutritional product or thinking about what to stock in your gym, here’s what’s hot in the industry right now…

1. Plant protein – protein is a consistently high-performing supplement but the popularity of plant-based formulations is growing rapidly.
2. Probiotics – increasing consumer interest is helping to drive this segment. 
3. Collagen – supplement brands have raced to incorporate this ingredient into their ranges.
4. CBD – a high-growth area in numerous wellness industry sectors including nutrition.
5. Liquid encapsulation – is a trend being driven by manufacturers to aid deliverability and effectiveness of their supplements.

Let’s explore some of them in more detail…

Protein

Protein supplements have been a top-performing segment for some time, driven by nutritional needs for older adults and the lucrative sports market.

• The protein market is expected to reach $32.6bn by 2027, growing at a CAGR of 8% between now and then.
• Growth in plant-based protein supplements is outpacing dairy, with the former estimated to account for almost 30% of all protein revenue ($9.57bn) within 5 years.
• Pea protein is the fastest growing sub-segment at 20% per year between now and 2026.

Probiotics

Gut health is well and truly having a moment. There’s a rapidly increasing awareness of the benefits related to digestive bacteria and the role they play in overall wellness. From the body-mind connection to immune system, interest in gut health is one of the factors driving priobiotics consumption.

• The probiotics market is worth more than $2 billion and growing at at over 7% per year. 
• Food and drink containing probiotics are increasingly popular with consumers.
• Awareness of the potential benefits of probiotic strains may also drive demand.

Collagen

A large number of nutrition brands have launched new collagen products in the last year. 

• The collagen market is worth more than $3.5 billion.
• It’s predicted to grow at over 8% per year between now and 2026. 
• While North America is the largest market, Asia Pacific is the fastest growing region.

You might also like… Top Nutrition & Healthy Diet Trends or The Latest Juice Market Insights.

2023 Nutrition Industry Report

This is the most comprehensive and up-to-date nutrition industry research report available. Unlike others, you get extended access to the 2023 edition, including any updates that are made as new market data becomes available. Ideal for business planning, the report includes;

• Nutrition industry growth, revenue & future predictions
• Impact of recent global events & estimated recovery timelines
• Growth markets, segments & audiences including Millennials
• Latest industry trends & how to capitalise on them
• Financial information for the largest nutrition manufacturers globally
• Biggest & fastest-growing nutrition brands
• 14-day money-back guarantee, no questions or hassle​

2023 Nutrition Industry Market Report

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